Turkey's Kiler REIT to issue sukuk of at least $100 mln in H2 2014

Kiler Gayrimenkul Yatirim Ortakligi A S

12/02/2014 11:42

ISTANBUL, Feb 12 (Reuters) - Turkish real estate investment trust Kiler GYO  KLGYO.IS  is planning to issue a five-year Islamic bond worth at least $100 million in the second half of this year, parent company Kiler Holding's Chief Financial Officer Kaan Aytogu said. Kiler is talking to banks from Saudi Arabia and Qatar over  buying into the issue, which will be used for investment and to extend the maturity of existing loans, Aytogu told Reuters late on Tuesday.   Last week, Turkish food retailer Kiler  KILER.IS  signed a $120 million four-year loan deal, including sharia-compliant borrowing, with Bank of America Merrill Lynch and banks from the Gulf region.   Turkey's Islamic finance industry is being reshaped as banks widen their product range and competitors prepare to enter the market.  ID:nL6N0GZ01K  (Reporting by Ceyda Caglayan; Writing by Ece Toksabay; Editing by Louise Ireland) ((ece.toksabay@thomsonreuters.com)(+90 212 3507052)(Reuters Messaging: ece.toksabay.thomsonreuters.com@reuters.net)) Keywords: TURKEY KILER/